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"Ratios & Harmonics: a Different Way to Trade." Summary 37 replies

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Ratios & Harmonics: a Different Way to Trade

  • #23,521
  • Jan 10, 2017 4:06pm Jan 10, 2017 4:06pm
Quoting Mack2013
{quote} Beginners luck. Lol. Experience I think. I watch the video and I understand your thought process and reasoning. I underestimate the weak nsh. Either way, my chart never gave me a good reason to accompany you on the trade. Looking at it, I wasn't really quite sure where the turning point might be and waited for information that the market never provided. Oh well, maybe tomorrow
Sometime staying on the sidelines waiting for more info sometimes keeps you there and there is nothing wrong with that. I like to hear traders taking trades on their terms and not get bullied by price action. Awesome!
If you fail to plan, you plan to fail.
  • #23,522
  • Jan 10, 2017 4:13pm Jan 10, 2017 4:13pm
Quoting evocpr19
{quote} I will definitely be present at the live stream. I currently try to better manage a given trade through properly trailing. Hence, I trade with the minimum (1$/point) in order to not be distracted from money. In case of a loss, I increase my lot for a scalp. I renewed also my mobile internet (when not at home), but it will take several days to get the new simcard.
Yeah I've been hanging around 20 - 80 dollars a point these last few month's. The usual is 50-100 a point which I will probably get to in the next couple of weeks once I feel the order flow is stable. I reduces my position size going into the elections as the market turn to shit then the holidays sometimes makes it crazy as well. It's getting there. You have to detach yourself from the value of money. I don't mean that in an irresponsible way but you just can't go about it as if I made 200 or lost 1000 as that is a bold invitation for emotional based trading and that till kill you and your account.
If you fail to plan, you plan to fail.
  • #23,523
  • Jan 10, 2017 4:30pm Jan 10, 2017 4:30pm
Quoting Mr. Pip
Here is the video of my post session on the day and how I deploy rescue missions. If this is unclear or need a specific more detailed video on it I will make one. https://youtu.be/7eR3bvRMngs
Amazing trading Mr. Pip. The play by play kept me on the edge of my seat. I sure was wondering why you went short after the NSH. Video clearly answered it. Goes to show, you need to know the framework of what you are trading. Thanks for taking the time for the explanation.
Damn The Torpedoes, Full Speed Ahead!
  • #23,524
  • Jan 10, 2017 4:34pm Jan 10, 2017 4:34pm
Quoting DizzleFX
{quote} Amazing trading Mr. Pip. The play by play kept me on the edge of my seat. I sure was wondering why you went short after the NSH. Video clearly answered it. Goes to show, you need to know the framework of what you are trading. Thanks for taking the time for the explanation.
Yeah I felt it might raise some questions since it looked like a possible rogue trade but I don't rogue trade. Anyway I felt better explained in a short video. I'm glad it made sense.
If you fail to plan, you plan to fail.
  • #23,525
  • Jan 10, 2017 6:02pm Jan 10, 2017 6:02pm
Quoting jmezz
YM this morning I might try and find a short and ride down to the bottom supply zone where the 361ext / 200ext / 1:1 completion all sit. At this point price will be in the PRZ and I'll be looking to flip long if I'm already short, or initiate a long if I am in cash. I do see the loss of momentum in the 2nd leg so if we hold and rotate up then I'm thinking I'll try and find a long for 880-890's. Of course it's possible none of this happens, in which case I'll monitor the order flow and trade accordingly haha. Screenshot1.png;2133448 {image}
Dumped to demand and then rotated up to hit 885 as HOD. Too bad I didn't take advantage of upside and wish I could be this on point with my analysis all the time.
  • #23,526
  • Jan 10, 2017 6:40pm Jan 10, 2017 6:40pm
Quoting liemo
Hi Mr Pip. Hope you enjoyed your time off with your family over the festive season. I have a few questions on my Analysis of AUD/USD, hope you can shred a few pointers if what I done is correct? thanks. {image}
Here you go my friend, I wanted to answer this in a video as it is easier for me to address all of the elements that are important to your questions. I hope this helps you and that it is clear to all that have found similar situations. I'm sorry for the delay.

https://youtu.be/9_a6SMxq9NI
If you fail to plan, you plan to fail.
  • #23,527
  • Edited 1:50am Jan 11, 2017 1:38am | Edited 1:50am
Opened up my chart today and I immediately recognised a setup with very low risk and I entered right away. Not the smartest thing to do but many times I skip this with the excuse that I hadn't done my analysing just to see how they work out.
So I entered a bit late and I was very aggressive with my stop. I got taken out at BE. I was tempted to close out the trade for a 1:1 risk:reward but we had a strong push from the bears so why do it ? And I wouldn't be following my rules would I ?
Long term and short term OF is bearish. Immediate is bullish. I'm going to wait for now and see where London open takes us.

6J - 89 tick chart
Orange - long term OF
Brown - short term completed OF
Red - projections

Edit: My trade markers (big vertical arrows) are always on the same candle because they show on which candle I set my SL and TP orders (strange software). But the fill markers are ok (small horizontal arrows)
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  • #23,528
  • Jan 11, 2017 2:08am Jan 11, 2017 2:08am
Quoting Mr. Pip
{quote} Here you go my friend, I wanted to answer this in a video as it is easier for me to address all of the elements that are important to your questions. I hope this helps you and that it is clear to all that have found similar situations. I'm sorry for the delay. https://youtu.be/9_a6SMxq9NI
appreciate the video Mr pip, still digesting the information for now. I seem to find it difficult to correctly analyse corrections, might avoid them for now as Im not having much success. Keep the videos coming Mr pip. all learning more in each one.
  • #23,529
  • Edited 5:54am Jan 11, 2017 5:38am | Edited 5:54am
Quoting liemo
{quote} appreciate the video Mr pip, still digesting the information for now. I seem to find it difficult to correctly analyse corrections, might avoid them for now as Im not having much success. Keep the videos coming Mr pip. all learning more in each one.
Keep in mind that trading the correction into the continuation also known at the expectation are where you highest probability trade will be. As long as you stop is properly place you should be good more often than not. If you work on timing your entry and patience to wait for price to come to you then you will spend less time on the pain train.

Give your trades room so that they have an opportunity to achieve the objective. Make sure you also are giving yourself room to protect your trade.

Often when things are not going the way we hope we allow emotions into our process. Emotions sometimes disguise themselves as doubt, confusion and the need for more information. When you have this, hesitation comes in or worse you start to see what you want to see and not what is there. Argument enters your reading and poor decisions will be made.

Stay clear and focused and ask yourself questions that keep you focused and the emotions away.

What is the expectation? There can only be one.
What did price achieve? This validates question one.
How did price achieve this? With strength weakness? This tells you who is gaining strength and who is losing it.
What does this mean? This tell you if the trade is worth taking or if you need more information in the form of more data waiting for more candles to print and answer your question.

There is no maybe price either did or did not answer your questions.
If you fail to plan, you plan to fail.
  • #23,530
  • Jan 11, 2017 5:43am Jan 11, 2017 5:43am
Quoting x3m-PippiN
Brown - short term completed OF
What do you mean by short term completed OF? Do you mean harmonic measured move completed? and why do you go short right into support? or maybe the red zone means something else in your analysis? Thanks for sharing.
  • #23,531
  • Jan 11, 2017 5:50am Jan 11, 2017 5:50am
Quoting crixus
{quote} What do you mean by short term completed OF? Do you mean harmonic measured move completed? and why do you go short right into support? or maybe the red zone means something else in your analysis? Thanks for sharing.
I meant that this for me is short term ordeflow..and I have marked it with the brown line.
I drew the red structure after I had entered. Like I said in my previous post I entered right after opening my chart I didn't know if that structure was strong or not. I made a quick scan of what the market was doing and I knew from yesterday that L/T OF was down so S/T was inline and I sold.
Btw.. that setup worked out great (without me).
  • #23,532
  • Jan 11, 2017 7:40am Jan 11, 2017 7:40am
YM this morning

Market may be trying for this large 1:1 but hard to get overly bearish when price hasn't taken out Friday's low yet and we continue to hold 768.

No real gameplan this morning so going to watch what RTH brings. Keeping in mind 850s and 720-730s.

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  • #23,533
  • Jan 11, 2017 8:13am Jan 11, 2017 8:13am
Quoting jmezz
YM this morning Market may be trying for this large 1:1 but hard to get overly bearish when price hasn't taken out Friday's low yet and we continue to hold 768. No real gameplan this morning so going to watch what RTH brings. Keeping in mind 850s and 720-730s. Screenshot2.png;2135279 {image}
Any trading above 825 would change the bearish to bullish for me. the bears may be in for a tougher fight then they had yesterday. We will see.
If you fail to plan, you plan to fail.
  • #23,534
  • Jan 11, 2017 8:24am Jan 11, 2017 8:24am
GM Traders,

With Crude inventories coming out at then and trump speaking at 11 the market could experience some volatility today mid session. Price did achieve a nice correction after I got out of the nice trade yesterday afternoon and went on into a NSH (weak one) in the over night hours. The bulls since then have completely stopped the bears from getting the NSL and are doing a nice job and over powering the sellers. The expectation at hand is a NSL and we are currently in a complex correction in which the bulls look healthier then the bears. Lets see that the open brings in so we are bearish with caution. Trading above 825 would change the expectation for me their is good resistance around 820-828 so we will see. These are what my zones look like today.
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If you fail to plan, you plan to fail.
  • #23,535
  • Jan 11, 2017 8:39am Jan 11, 2017 8:39am
The open does not shed any new light. We are likely to see price trade above 825. Today's expectation is for a NSH but the longer term is NSL. That is what I'm looking for but with caution. the bulls are looking to defend 800-788
If you fail to plan, you plan to fail.
  • #23,536
  • Jan 11, 2017 8:49am Jan 11, 2017 8:49am
The bulls at the moment are having major struggles with a 1:1 completing around 830.
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If you fail to plan, you plan to fail.
  • #23,537
  • Jan 11, 2017 8:55am Jan 11, 2017 8:55am
Looking at this area with interest interest. I expected price to trade above 825 and it has.
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If you fail to plan, you plan to fail.
  • #23,538
  • Jan 11, 2017 8:57am Jan 11, 2017 8:57am
This has already changed I am looking for opportunities long now as the expectation has now changes. We has to not stay married to our bias and expectation.
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If you fail to plan, you plan to fail.
  • #23,539
  • Jan 11, 2017 9:00am Jan 11, 2017 9:00am
Not many people here today.
If you fail to plan, you plan to fail.
  • #23,540
  • Jan 11, 2017 9:06am Jan 11, 2017 9:06am
Not interested in looking for anything short at the moment safer selling territory is in the 870-880 area.
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If you fail to plan, you plan to fail.
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